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No, Wal-Mart and Litecoin are not affiliated

“We’re digging deeper to understand what happened,” Hargrove said.

The announcement looked real, but there were clues that it was fake, including a statement from Wal-Mart CEO Doug McMillon. First, I posted the contact email address on the unauthorized website walmart-corp.com. Also, the press specified in the release will not work in Wal-Mart’s media division. Wal-Mart usually uses Business Wire for official announcements, Hargrove said.

Cryptocurrency enthusiasts have pointed out another clue: Litecoin’s relative ambiguity makes it an unlikely cryptocurrency choice for retailers.

It’s unclear how the fake release passed through Globe Newswire’s system. By the morning, the service had informed the user that the announcement should be ignored. Bloomberg and Reuters withdrew and updated the article in the two media that wrote the release.

Such hoaxes sometimes occur. In 2010, another news agency Fake release The grain company General Mills was the subject of a federal investigation, but the company said it wasn’t. In 2009, Claimed by federal securities regulators A stock broker who spreads false releases to manipulate the stock of some public companies. In that case, the SEC filed an enforcement proceeding only three weeks after the scheme began.

Most large corporate news agencies have a secure system that allows them to submit releases for distribution. After being preyed on by a fake release scandal involving a pharmaceutical company in 2010, Warren E. Buffett’s Berkshire Hathaway-owned Business Wire Prevention Companies cannot use email to send releases. Business Wire declined to comment.

The fake Wal-Mart release was confusing at the Litecoin Foundation and was easily posted to a Twitter account. The Foundation later deleted the message and posted that it had no partnership with Wal-Mart.

In a Twitter statement, the Foundation stated that a quote from Litecoin creator Charlie Lee was created and that members of the Foundation’s social media team mistakenly sent a Twitter message. “We have taken steps to fix future issues,” the statement said.

Coinbase, one of the cryptocurrency exchanges where investors can buy and sell Litecoin, said in a statement that it worked to actively condemn false information, posted. article Refute the hoax.

No, Wal-Mart and Litecoin are not affiliated

Source link No, Wal-Mart and Litecoin are not affiliated

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